Wash and rinse the rice till water runs clear. Drain and keep it aside. Use basmati or any rice of your choice.
Press the sauté button. When it displays hot, pour oil into the inner pot of the instant pot.
Add cashews and peanuts and saute till golden brown. Transfer it to a plate and use it for garnish at the end.
Add mustard seeds to the remaining oil. When they splutter, add urad dal and chana dal, turmeric powder, and when dal turns light in color, add curry leaves, red chilies, green chilies and saute for few seconds.
Add the raw mangoes and saute it nicely in oil, stirring it frequently till it is cooked completely, and becomes soft and mushy.
Add 1.25 cups of water and salt. Scrub the bottom with a spatula to avoid burning from the bottom. Press the cancel button. Add rice and mix well.
Close the lid with vent to Sealing Position. Press the pressure cook button and set the time for 5 minutes. Wait for the pressure to release naturally for 5 to 7 minutes.
Then, release the pressure manually by moving the handle to the venting position. Open the lid, remove the inner pot, and keep it aside.
Toss with coconut (if desired), coriander leaves, roasted cashews, and peanuts.