Preheat oven to 350 F (180 C) then prepare a 9 inch springform pan with non-stick baking spray and line the bottom with parchment paper.
Using a medium mixing bowl, whisk together the flour, baking powder, salt and fresh basil. Set aside.
Using the bowl of a stand mixer fitted with the paddle attachment on medium high speed, beat together the sugar and butter until fluffy and pale. About 1-2 minutes.
Add the lemon zest and vanilla bean paste and mix just to incorporate.
Scrape down the sides and bottom of the bowl with a rubber spatula. Do this as needed throughout mixing to ensure nothing gets stuck to the bottom of the bowl.
Add in each egg one at a time while continuing to mix on medium speed.
Then, spoon in half of the flour mixture, allowing it to be completely incorporated into the batter.
Next, mix in all of the ricotta cheese.
Finally, add the remaining half of the flour mixture, and be sure to scrape the sides and bottom of the bowl one last time before a final mix.
Add the chopped peaches and fold them into the batter gently with a rubber spatula.
Transfer the batter to the prepare pan and level with an offset spatula.
Bake the cake on the middle rack of the oven for 40-45 minutes until the top is set and a toothpick inserted into the center comes out with just a few moist crumbs.
Place springform pan on a wire rack to cool completely.
Remove collar and carefully transfer cake to serving dish.
Sift confectioner's sugar onto cooled cake, slice and serve.