Heat oil in large skillet. Add beef and any remaining flour mixture. Brown over medium-high heat. Layer onion, green pepper and carrots over beef. Sprinkle with basil and marjoram. Add water and beef granules. Heat to boiling. Cover. Reduce heat. Simmer about 1 hour, or until beef is tender. Transfer beef and vegetables to serving platter, reserving drippings in skillet. Place cold water in 1 cup measure or small bowl. Blend in remaining 2 Tbsp. flour. Stir flour mixture into drippings in skillet. Cook over medium-high heat, stirring constantly, until thickened and bubbly. Serve with meat and vegetables. 4 to 6 servings.