Choose the sauté button on your Instant Pot and add the ghee to the bottom. Once melted, add the cumin seeds and the bay leaf. When the cumin seeds turn brown, add the turmeric and salt. Then add the rice and lentils. Stir well and let brown for 1-3 minutes. Add the water and give it another stir.
Secure the lid on the Instant Pot and set the the pressure valve for a natural release. Cook for 20 minutes at high pressure.
While it's cooking, saute the curry leaves in ghee until crispy.
After about 20 minutes of natural pressure release, open the valve to release anything remaining.
Serve each bowl with a spoonful of ghee and sauteed curry leaves.