Press Saute for 2 Minutes. Put 3 tbsp olive oil in the bowl and add the garlic and onion. Stir well and add to the sauté, ⅓ cup pepper, 1 cup diced tomato, ⅓ cup grated or shredded carrot. Press Saute again for another 3 Minutes. Stir well and season with 1 tsp paprika, 1 tsp oregano, 1 ½ tsp salt, and 2 tsp basil.
Add 2 cups of yellow squash, 2 cups of sliced corn, 3 cups of white beans and 8 cups of cold water. Using a small spoon, taste liquid to adjust salt level.
Close and lock the Instant Pot® lid. Make sure the steam release handle is turned to Sealing. Press Pressure Cook, pressure level High, and set time to 15 Minutes.
When done cooking, press Cancel and then turn the steam release handle to Venting. Once all the steam has escaped (this will happen when the float valve drops into the lid).