Benzyl alcohol is obtained from benzaldehyde by 

Benzaldehyde is treated with strong base like $NaOH$ (Disproportionation reaction) 

This is called Cannizzaro’s reaction. In this reaction benzoyl chloride and sodium benzoate is produced which on hydrolysis gives 

${\mathrm{C}}_6{\mathrm{H}}_5\mathrm{CHO}+\mathrm{NaOH}\to {\mathrm{C}}_6{\mathrm{H}}_5{\mathrm{CH}}_2\mathrm{OH}+{\mathrm{C}}_6{\mathrm{H}}_5\mathrm{COONa}$

Benzaldehyde Benzoyl alcohol Sodium Benzoate.

Therefore, the correct answer is option (B) Cannizzaro’s reaction.