Heat oil in a pan over medium heat.
Once the oil is hot, add mustard seeds, urad dal, and chana dal, and saute until the dals are lightly browned, stirring continuously.
Add green chilies, dry red chiles, curry leaves, and asafetida, and saute for 10-12 seconds.
Add peanuts and cashew nuts and saute for 40-60 seconds until the nuts are slightly browned, stirring continuously.
Now add turmeric powder and saute for 10-12 seconds.
Add rice, lemon juice, and salt, and mix well.
Reduce the heat to low. Cook for 2-3 minutes. Check for salt and add more if required. Serve hot.