In a medium bowl, mix together the yogurt, lemon juice, ginger, garlic granules, garam masala, cayenne, turmeric, and salt. Add the chicken thighs and toss to coat.
On the Instant Pot Sauté setting, melt the butter. Add the onion and cook until caramelized, stirring occasionally, 15–17 minutes. Remove half the onion and set aside for garnish. Push the CANCEL button to turn off Sauté mode.
Add the chicken and the marinade to the Instant Pot, then toss to combine with the onions. Add the bay leaves, rice, salt, saffron, and water. Gently stir to combine. Make sure all ingredients are submerged below the liquid.
Put the cover on the Instant Pot. Be sure the pressure valve is set to “Sealing.” Use the manual setting to set the timer for 8 minutes.
When the timer goes off, turn pressure valve to “Venting” to release pressure quickly.
(Be sure to read all Instant Pot instructions carefully for safety. Be sure Instant Pot is turned off and unplugged before carefully removing the cover.)
Using a silicone spatula, fluff up the rice and fold to carefully combine. Serve garnishes with the reserved caramelized onions, cilantro, mint, and sliced jalapeño.
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