Hi Aditya Gupta,
Welcome to Microsoft Q&A,
Azure for Students restricts which regions you can deploy resources to. Typically, you are restricted to five different regions, and these vary for each person.
Please navigate to Azure Policy -- Authoring -- Assignments using the link below:
https://portal.azure.com/#view/Microsoft_Azure_Policy/PolicyMenuBlade/~/Assignments
Click on assignment named Allowed resource deployment regions
Examine Allowed locations Parameter value for list of regions, similar to below (regions in screenshot are different than yours):
The regions shown in your Parameter value are the ones you are allowed to deploy resources to. Please try to create the B2C resources in one of these regions and let me know the results.
Please Upvote and accept the answer if it helps!!