Add ghee to a cooker or a pot. Add bay leaf, star anise, cloves, cinnamon stick,cardamom and a strand of mace. Fry for a min.
Add onions ,slit green chilli and pepper to the same pan, fry till onion turns golden .
Drain rice and add it to fried onions and fry for about 3 to 4 minutes .
Meanwhile prepare coconut milk. Grind about 1/2 small cup grated coconut adding half a cup of water .Do superfine paste.Once it is ground finely,pour it on a strainer and squeeze it to get coconut milk. If you want you can use ready made coconut milk or completely omit it.
Add salt, hot water, coconut milk and stir well. Bring it to a boil and then cover with a lid.
Pressure cook for 1-2 whistles.Allow them to cool completely.Once pressure releases, gently puff rice with a spatula or fork.
Meanwhile heat ghee in a pan, add broken cashew nuts and fry them till they are golden brown in color.
Finally garnish ghee rice with fried cashew nuts and mix well. Serve it with with veg kurma/ peas masala / any spicy gravy
Basmati Rice to water ratio i follow is 1: 1 3/4 . If using normal rice you can maintain 1 : 2 1/2 ratio. I.e for 1 cup rice . add 2 cup water .
Coconut milk is optional in this recipe. If you want you can add else omit.
In the above recipe water + coconut milk together make 1 3/4 ie 1 glass water + 3/4 coconut milk. If you are not using coconut milk , then add only water 1 3/4 glass.
If you are using basmati rice ,cook for 1 whistle , keep on sim for abt 5-8 mins. Switch off. For normal rice , cook for 2 whistles on medium flame.Basmati rice will cook quickly.