Rinse and soak the chana (chickpeas) in water for 8-12 hours. Drain the water and rinse thoroughly. Set aside.
Set your Instant Pot to sauté mode. Add the ghee (or oil if you prefer to keep this recipe completely vegan).
Add the bay leaves, cinnamon stick, cumin seeds, and whole dried chili peppers. Mix well and continue to cook until the cumin seeds are fragrant and toasted, about 2 minutes.
Add the onion and serrano or jalapeño pepper (if using). Mix well to combine with the toasted cumin seeds. Continue to cook, stirring often, for 3-4 minutes, or until the onions have turned translucent and have started to soften. Stir in the garlic and fresh ginger, mixing well to combine. Cook for an additional minute.
Scrape up any brown bits stuck to the bottom of the pot. Add the canned tomatoes (or crushed tomatoes if you prefer a less chunky tomato sauce). Mix well then add the chili powder, coriander powder, amchur (mango powder), garam masala, turmeric powder, cumin, salt, and kasoori methi (fenugreek leaves). Mix well and cook for 3-4 minutes, stirring as needed.
Turn off sauté mode. Check again to make sure there are no stuck-on brown bits on the bottom of your Instant Pot.
Add the soaked and rinsed chickpeas plus 5 cups of water (for a thicker chana masala, add 4-4½ cups of water).
Secure the lid and close the vent to the sealing position. Set your Instant Pot to "manual" mode high pressure. Set to cook for 45 minutes on high pressure. Once the cooking time has completed, allow your Instant Pot to release naturally for 10 minutes then manually release.
Carefully remove the lid and season with additional salt, to taste.
Serve garnished with fresh chopped cilantro and fresh lemon juice, if desired.