Select sauté on the instant pot and adjust to normal. Add in oil to the pot. Further, add in chopped onion and ginger paste. Let the onions sauté for 2 to 3 minutes until golden.
Next in 30 seconds, add in spinach and stir well. Let the spinach sauté for 2 to 3 minutes, keep stirring intermittently. The spinach should shrivel.
Once it shrivels add in salt, sugar, and ½ cup water. Stir well. Using an immersion blender blend coarsely blend the spinach for a few seconds. Also, don’t blend it super fine. It needs to have some texture. If you don’t have an immersion blender you can use a potato masher or the back of a ladle.
Further add in the chopped serrano peppers. Stir well. Press cancel. And, secure the lid on the pot and select manual/high pressure for 3 minutes. When done quick release the pressure.
Open the lid, add in garam masala and stir well. Finally, transfer to a serving bowl and enjoy with steamed rice or roti.