Combine the lamb meat with the spices and yogurt and mix well. Allow to marinate for at least 10 minutes or up to 24 hours.
Blend the cashews with one cup of boiling water to create a paste. Blend the onion with 3 tablespoons of water to create an onion paste and blend the ginger with 3 tablespoons of water to create a ginger paste.
Heat the butter in a pot over medium heat and add cardamom, coriander, bay leaves, and cinnamon. Cook for 1-2 minutes, add the onion paste, and cook for two more minutes. Add garlic and ginger paste and cook for one more minute.
Remove the cinnamon stick and blend the rest of the ingredients from the pot into a thick paste. Place back into the pot along with the cinnamon, followed by the marinated lamb.
Cook for a couple of minutes, then add the shredded coconut, mix, and add cashew paste with the remaining cup of water.
Bring to a simmer, adjust the heat to low, and cook for 60 minutes, occasionally stirring, or until the lamb becomes tender.
Notes
TO STORE: Place leftovers in an airtight container and store it in the fridge for up to 2 days.TO FREEZE: You can freeze the korma in a shallow container for 2 to 3 months.TO REHEAT: Reheat lamb korma on the stove over medium heat, adding a dash of water or broth if needed. You can also reheat it in the microwave.