When the ball reaches its terminal velocity, the net force acting on the ball becomes zero. This means the viscous drag force \( F_d \) equals the weight of the ball:
\[
F_d = Mg
\]
For an object moving through a viscous medium, the drag force is given by Stokes' law:
\[
F_d = 6 \pi \eta r v
\]
where \( \eta \) is the viscosity of the medium, \( r \) is the radius of the ball, and \( v \) is the velocity. The velocity becomes constant when the downward force due to gravity is balanced by the upward viscous force. Since the density of the glycerine is half that of the ball, the drag force \( F_d \) at terminal velocity is equal to the weight of the ball, which is \( Mg \).
Thus, the viscous force acting on the ball is \( Mg \), so the correct answer is \( \boxed{Mg} \).