Rinse the rice under cold water until the water runs clear. This removes excess starch and helps the rice not stick together.
Set your Instant Pot to sauté mode. Add a bit of oil, then add the chopped onion, garlic, and jalapeno. Sauté until the onion is translucent.
Add the drained rice to the pot and stir for a couple of minutes until it's well coated and slightly toasted.
Add the tomato sauce, vegetable broth, cumin, salt, and pepper. Stir well to combine.
Close the lid and set the Instant Pot to Manual or Pressure Cook for 6 minutes. Once done, let it naturally release for 10 minutes, then quick release any remaining pressure.
Open the lid, fluff the rice with a fork, and stir in the chopped cilantro. Serve warm.
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Notes
If you use unsalted broth, add an additional ½ tsp of salt.
You can stick the other half of the serrano or jalapeno pepper in the freezer if you don’t have an immediate use for it.
To make it stovetop: Cover the pot with a tight-fitting lid, and let the rice simmer for about 15-20 minutes or until the rice is cooked and the liquid is absorbed. Then let it stand with the heat off for another 5 minutes before fluffing it with a fork.