Cook beef and chili powder in 10" skillet over medium-high heat until beef is well browned, stirring often to separate meat. Pour off fat.
Stir soup, water, tomatoes and beans in skillet and heat to a boil. Reduce heat to low. Cover and cook 10 min. Remove skillet from heat.
Stir in rice. Cover skillet and let stand 5 min. Sprinkle with cheese. Serve with tortilla chips.