Soak the paneer in hot water until we are making the gravy. This will help the paneer turn nice and soft especially if its frozen. Skip it if you are using fresh paneer. Once soft cut in to cubes and keep soaked until ready to use.
Turn on the instant pot on saute mode and add oil/ghee to it. When the oil is hot, add the bay leaf and cumin seeds. Once the seeds splutter add the onion and saute till they turn translucent.
Next add ginger garlic green chillies and saute till raw garlic smell disappears about a min or so.
Add the tomatoes along with all the spices like salt, turmeric powder, red chilli , cumin seeds, coriander, dry mango and garam masala. Mix well and saute for a minute more. Deglaze with little (1-2 tablespoon) water if need be.
Add the washed and drained palak leaves. Give it a quick stir to ensure nothing sticks to the bottom.
Close the instant pot lid with vent to sealing position and select “MANUAL” or PRESSURE COOK” for 0mins. Once the pot beeps , wait for 5 mins and then so a Quick Release.
Open the lid, remove the bay leaf and using an immersion blender make it to a smooth gravy.
Crush the fenugreek leaves between your palms and then add it to the gravy along with the paneer cubes (defrosted and drained).
Switch the instant pot back to Sauté mode, mix well and cook for about 2 mins stirring intermittently. Palak paneer is ready!