Select sauté on the Instant Pot and adjust to normal. Second, add oil to the pot.
When the oil is hot add in the chopped eggplants and let them sauté for 8 minutes until they brown.
Move the eggplants to the side in the pot and add in asafoetida, whole dried chili peppers, black cardamom pods, cloves, cumin seeds and cinnamon stick. Stir and let it all sauté for a minute.
Add in Kashmiri chili powder and 1/2 cup water. Stir well. Then in about 30 seconds to a minute add in ground fennel, ground ginger, ground cumin and stir gently without breaking the eggplants.
Finally add in salt. Again, give it a good stir.
Finally, close the lid and select manual/high pressure for 2 minutes. When cooking is complete, use quick pressure release to depressurize. Open the lid.
Then, add in ¼ cup water and right away keep adding in a tablespoon of whisked yogurt and rice flour gently and continually. Keep mixing the yogurt in the pot as you add it. This step will prevent curdling. Repeat until you run out to yogurt. Mix the added yogurt well in the gravy. Select sauté and sauté until the curry boils. Keep mixing. Press cancel.
Transfer the cooked dish in a serving bowl, garnish with serrano peppers and serve over steamed rice.