In medium skillet, brown rice in oil. Remove from skillet.

In same skillet, brown beef with onions and chili powder. Stir in rice. Turn into 11 x 7 baking dish.

In medium saucepan, combine water, tomato juice and bouillon. Cook, stirring until bouillon dissolves. Pour over meat mixture. Cover and bake 40 minutes at 350 degrees or until rice is tender.

Remove cover, top with cheese and bake 5 minutes longer.