Step 1: Understanding the Concept
The spinal cord lies in the neural canal of the vertebral column and ends in the lumbar region.
Step 2: Check each option
A is wrong because the cord lies within the neural canal, not a central canal.
B is correct. The bunch of nerves at the lower end is cauda equina.
C is wrong because the central canal lies in the cord, not the neural canal.
D is wrong because the butterfly shaped inner region is grey matter.
Step 3: Match
Option (B) is correct.
Final Answer:
The bunch of nerves at the hind part is the cauda equina.
\[ \boxed{\text{(B) }\text{The bunch of nerves in the hind part is called cauda equina.}} \]