Wash and Soak rice for 15-20 minutes.
Put Instant Pot on saute mode.
Heat 2-3 tbsp oil, add bay leaf, cumin seeds, chopped cilantro stems and chopped jalapeños.
Saute for couple of minutes. Add soaked and drained rice to IP.
Saute rice for couple of minutes.
Add 1½ cups of water and 1 tsp of salt.
Mix it and close the lid, cook on high pressure for 4 minutes. Release pressure naturally for 7-8 minutes. Release rest of the pressure manually.
Open the lid once the security valve is down. Fluff up the rice with fork very gently. Keep it aside.
Drain water out from the black beans and give it a rinse.
Mix black beans, chopped cilantro leaves, chopped scallions, cumin powder, ½ tsp salt, 2 tbsp of fresh lime juice in a big bowl.
Add cooked rice in the beans mix and mix it gently, making sure the rice does not break. Taste it and add more salt and/or lime juice if needed.
Serve it hot, warm or at room temperature with any Mexican food!