Concept:
Newton's rings are interference fringes produced due to the thin air film formed between a plano-convex lens and a plane glass plate.
Step 1: Formation of air film.
When a plano-convex lens is placed on a plane glass plate, a thin air film of varying thickness is formed.
Step 2: Illumination by monochromatic light.
When monochromatic light falls on this arrangement, reflected rays from the top and bottom surfaces of the air film interfere.
Step 3: Nature of fringes.
The fringes obtained are circular rings, not parabolic fringes.
Step 4: Final answer.
Therefore, the correct statement is:
\[
\text{Newton's rings are formed using a plano-convex lens on a plane glass plate.}
\]
\[
\therefore \text{Correct Answer is (B)}
\]