Soak Black Eyed Peas (2 cup) for 15 minutes. Drain, rinse, and set aside.
Turn the Instant Pot on in Sauté mode. Add Cooking Oil (1/2 tablespoon) and within 15 seconds add Cumin Seeds (1 teaspoon). Fry for about 5 seconds and then add the Bay Leaf (1) and Onion (1).
Saute till the onions turn translucent and then add the Tomato (2) to the pot.
Add Paprika (1/2 tablespoon), Ground Cumin (1/2 tablespoon), Ground Turmeric (1 teaspoon), and Garam Masala (1/2 tablespoon) and fry for 15 more seconds. Then add the Water (4 cup).
Now add the soaked Black-eyed peas to the pot along with Sea Salt (to taste).
Close the lid, turn the steam release valve to the sealing position.
Select Manual/Pressure mode and cook on high pressure for 7 minutes.
Release the pressure naturally for about 10 minutes and then manually release the pressure.
Open the lid, give the chili a stir and add a little more water if it's too thick. Garnish with Fresh Cilantro (3 tablespoon) and 1 Tbsp of juice from a Lemon (1). You can also add a dollop of sour cream on top.