The correct answer is: B. 10 kg/cm2
Local bond stress is the stress that develops between the concrete and the reinforcement at the interface of the two materials. It is a function of the strength of the concrete, the strength of the reinforcement, and the surface roughness of the reinforcement.
The IS 456:2000 code specifies that the minimum local bond stress for M150 mix concrete is 10 kg/cm2. This means that the concrete must be able to withstand a tensile stress of at least 10 kg/cm2 at the interface with the reinforcement.
The other options are incorrect because they are not within the range of values specified by the IS 456:2000 code.