Bring a large pot of water, about 5 quarts, to a boil.
Add red beans, cover pot with lid, and let it simmer for roughly 2 hours or till beans are soft.
While beans are cooking, wash basmati rice well, and let them soak in water.
About an hour in, add salt and cumin seeds to the beans. Keep an eye on the water to make sure you have enough leftover for the rice. If you are running low, add hot water as needed. I added about 3 cups worth.
Once the beans are cooked through, check for salt, and add more if needed. Again, check if you have enough water leftover to boil the rice. If you don't, add hot water now.
Remove from heat, and let it cool for about 20 minutes.
After it has cooled down, bring the water back to boil, and add rice.
Cover the pot with a tight-fitting lid, and let rice and beans simmer on medium heat till the rice has absorbed the water, about 8-10 minutes.
Tightly wrap the lid with a cloth, and place securely back on the pot. Dial heat to the lowest point, and let rice steam undisturbed for 12 minutes. Remove from heat.
Place rice on platter and fluff with a fork, taking care not to smash the beans.
If the rice is done but water has not completely absorbed, just drain it in a colander and place it back in the pot for the steaming phase. You don't want the rice to become mushy.