Chop the onions, tomatoes, and cilantro finely. Slit the Serrano pepper into 2 lengthwise.
Rinse the rice a few times and drain it out in a colander.
Select sauté on the instant pot and adjust to normal.
Add oil to the pot. When the oil is hot, add mustard seeds and cloves.
When the mustard seeds begin to splutter in about 30 seconds add onions, ginger garlic paste, curry leaves, and the Serrano pepper.
When the onions turn golden in about 2 to 4 minutes add tomatoes. Then add chopped cilantro, ground turmeric, red chili powder, ground coriander, ground cumin, ground black pepper, and salt. Give it a good stir and let the tomato and spices saute for a minute or two until the tomatoes get slightly mushy.
Then add the rice and 1 and 1/4 cup water. Stir well.
Press cancel. Secure the lid on the pot. Select manual and cook at high pressure for 22 minutes. When cooking is complete, use quick pressure release to depressurize.
Serve hot with pickle.
On a scale of 1 to 5, I would place this dish at 3.5 in terms of spice levels. You can modify your spice levels as per your taste.