Heat the oil in a large pot. Add the bay leaves, both types of cardamom, cloves, cinnamon and caraway seeds to the oil and saute until the bay leaves turn color just slightly.
Add the onions and continue to cook, sauteing, until golden spots appear on the onions.
Add the ginger garlic paste, saute for about 30 seconds, then add the mint and coriander leaves
Stir-fry the mint and coriander. Add the biryani masala and the cashew yogurt.
Stir-fry until the yogurt is rather dry, then add the rice and salt to taste. Stir to coat the rice with the masalas, and then add 1 ½ cups of hot water.
Let the rice cook on an open flame until most of the water is absorbed. Then cover with a lid, turn the flame to the absolute lowest setting, cover with a lid, and let the rice steam for another 15 minutes.
Turn off the stove and let the rice stand for 10 minutes at least before opening.