Start the instant pot in sauté mode and heat oil in it. Add cumin seeds and asafoetida.
Once the cumin seeds start to change color, add the onions, garlic and saute for 2 minutes.
Add tomatoes, turmeric, red chili powder and salt. Stir and saute for 2 minutes.
Add the washed dal and water. Stir it all up while making sure nothing is stuck to the bottom of the pot. Press Cancel and close the lid with vent in sealing position.
Change the instant pot setting to manual or pressure cook mode at high pressure for 4 mins. After the instant pot beeps, let the pressure release naturally for 5 minutes, then release the pressure manually (5 minute NPR).
Garnish with cilantro and stir. Optionally, sprinkle the juice of half a lemon and some garam masala. Moong Dal is ready to be served.