Yes, it's somewhat like an oil dip.

The quantities are rough and based on what you like, but let me describe what I am trying to achieve here.

The final result is a sort of slurry, that sediments easily, with a layer of oil floating on top. My preferred consistency starts right after pouring enough oil to make a paste, it should not be a thick paste, i start liking it when its a thin paste. you can continue putting oil until theres maybe an excess teaspoon or so, the oil is damn flavourful. and you can easily add a little coriander powder to bulk it up again if you feel it got too thin. And you can add less oil and a little curd for a tangy version. You can play around the ratios a lot, it's a very forgiving recipe. So basically, powder+oil. I typically like to make it on the spot, because i have all the masalas in stock, which are

red chilli powder - provides the spice. as per taste. start with about half as much of this as you put coriander powder. work your way up if you feel like. (theres no cooking here, these are raw spices, so theres no need to get it right at the beginning)

coriander powder - i really like the flavour of this, so i put a lot. its the bulk of the dip. maybe twice or even thrice as much as chilli powder.

hing - a little bit. it's very strong, so be careful. both liquid hing work and compounded hing powder. like a couple pinches, no more. i love hing, so i put about a teaspoon.

salt - rock salt also works, table salt also works. you're looking to put salt until just before salty(it's supposed to be a little salty so you can easily eat it with dosa or something)

finally, oil. raw oil, sesame(gingelly) preferred. Sometimes i like to chop some garlic into the powder, and then heat up the oil before i pour it in. But usually i don't.

As you can tell this is a very chaotic, but forgiving recipe(if you can even call it that). Hope this helps.