Set the SAUTE Mode of IP for 10 minutes. Add cooking oil, bay leaf, cardamom, and cumin seeds to the inner pot of IP. Saute spices for 20 - 30 seconds to release aroma.
Next, add sliced onion and fry till the onion become light golden. Keep stirring them while frying.
Add ginger-garlic paste, soaked chickpeas (no water), salt, turmeric, red chili powder, chana masala, and green chili. Stir to combine. Saute for 1 - 2 minutes. (If you are using canned chickpeas then at this stage you can add rice, potato, water and cook the pulao for 3 minutes.)
Next, add water and stir. Seal the lid of the IP. Cancel SAUTE Mode. Set PRESSURE COOK Mode for 20 minutes to cook chickpeas.
After IP beeps, release the steam manually. Open the lid and check chickpeas for doneness. I like soft and fully cooked chickpeas in my pulao.
Drain all the water from the soaked basmati rice. Add potato and rice to the IP. Stir to combine. At this stage, taste the liquid for seasoning, if required add more salt or spices. Seal the lid. Set PRESSURE COOK mode for 3 minutes.
After the set cooking time, open the lid and fluff the rice using a fork. Cover with the IP lid and let rest for 5 - 10 minutes before serving.
Serve chana pulao with raita and salad.