Heat 1 tsp of oil in a saucepan. Add the onions, dry red chili peppers, ginger and garlic, and saute until the onions start to brown. Add the grated coconut and saute another 3-4 minutes, or until the coconut starts to color slightly. Be watchful and don't let the coconut burn.
Remove the onion, ginger-garlic, coconut mixture to a blender, add 1 cup of water, and blend into a smooth paste.
Heat the remaining 1 tsp of oil in a large saucepan. Add the cumin seeds and as they begin to color, add the turmeric, cayenne and garam masala. Almost immediately, add the blended onion-coconut paste and the chickpeas. if you have the cooking water with the chickpeas, don't add it all at once-- use as needed to get the correct thickness for your sauce. Stir everything to mix.
Cook the chickpeas for 10 minutes over medium heat so all the flavors merge together. Add salt, and stir in coriander leaves.