Cook Jasmine rice as per package instructions; set aside.
MAKE THE SAUCE:
While the rice cooks, make the sauce. In a small bowl whisk together soy sauce, cornstarch, and water until smooth. Whisk in sugar, fish sauce, oyster sauce, and lime juice until combined; set aside.
COOK THE BEEF AND VEGGIES:
In medium bowl toss beef with 1 teaspoon oil and 1 teaspoon cornstarch. Preheat a large skillet and 2 tablespoons oil over medium-high heat). When oil shimmers, add beef and cook until browned on both sides. Remove from heat and set aside. Reduce heat to medium, add bell pepper, shallots, and garlic and sauté until onions are browned and slightly caramelized, about 2-3 minutes. Stir in carrots and cooked beef.
FINISH THE DISH:
Give the sauce a quick whisk, and pour into skillet. Stir everything together to coat meat and veggies with sauce. Bring sauce to simmer while stirring often. Cook until sauce thickens, about 1-2 minutes. Stir in basil and cook until wilted, about 1 minute. Serve over cooked Jasmine rice with basil, sesame seeds, cilantro, and lime wedges as garnishes. If you like to spice things up a little, then dab some chili garlic sauce on top and mix in!