Put basmati and cold water in a 3-quart microwave-safe dish and cook on high, uncovered, 15 minutes, or until steam holes appear in rice. Cover dish and cook on high 5 more minutes. Let rice stand, covered, 5 minutes and fluff with a fork. You'll note that using the microwave shaves only five minutes off the traditional stove-top method, but faster is not the issue here. Better is.
