In a pan, heat oil. Fry cashews until they are golden brown. Remove them and set aside.
In the same pan, add chopped onions and fry off until they are crisp and golden brown. Remove them and set aside.
In the same pan, add 1 teaspoon of ghee and add dried bay leaf, cardamom, cloves, cinnamon, slit green chillies and ginger garlic paste. Fry until the raw smell is gone.
Add 2 cups of water along with salt as needed. Let this come to a boil.
Next add soaked & drained basmati rice and mix well.
Cook covered on low flame for 12-15mins. Remove from heat and set aside for 5 mins.
Sprinkle golden onions, fried cashews and finely chopped coriander leaves on top. Gently fluff up the rice.
Serve hot with dal makhani or any dal of your choice.