Soak the dried black eyed peas in cold water for 1-2 hours. Drain, rinse and set aside.
Press the sauté button, and add the oil and allow it to heat up for a minute. Add the cumin seeds and once they begin to turn brown, add the onion and bay leaf. Stir-fry for 6-7 minutes, or until the onions begin to turn brown.
Add the garlic, ginger and spices, stir, then add the diced tomatoes. Cook for 2-3 minutes, or until the tomatoes break down.
Add the drained black eyed peas to the pot along with the 2 cups of water and mix well.
Secure the lid, close the pressure valve and cook for 20 minutes at high pressure.
Naturally release pressure.
Garnish with cilantro if desired.