Start Instant Pot in saute mode (normal), and heat up a little oil.
Add cumin seeds, and wait till it flutters, then add chopped ginger & garlic, and saute for a few minutes. Then add chopped green chillies.
Once the ginger & garlic start to change color, add chopped onions & salt, and saute till the onions turn translucent or even light golden brown, based on your preference.
Then add in the chopped tomatoes, and saute for a couple of minutes. You don't need to cook them down, pressure cooking will take care of that.
Next add in the palak leaves and water. The water doesn't need to cover the leaves. Only a little water is needed. 1 cup for 10oz of palak leaves.
Close the Instant Pot lid and pressure cook for 2 minutes on high.
Once the cooking cycle is complete, let the pressure release naturally for 5 minutes, and then manually release all the pressure from the pot, and open the lid.
At this point, the palak mix will be really hot, so let it cool down to about room temperature.
Once the palak mix has cooled down, use a hand blender to make a semi smooth curry.
Add paneer cubes, and start the Instant Pot on saute mode again, for a few minutes, till there is a light boil and the paneer gets a chance to cook in the curry.
Serve hot with roti or naan, and enjoy!