@Kale, Vaibhav Thank you for your patience over the matter!!!
I had discussion internally and below is the response I got :
The best approach is to have nodes join a VNet that has access to the storage account.
As far as I know IP filtering doesn’t work from any Azure resources in the same region (or its pair region) due to the optimized networking that storage uses. This is a limitation of storage not Batch.
You can share same as feedback as well here.
Hope it helps!!!
Please "Accept as Answer" if it helped so it can help others in community looking for help on similar topics.