Hello @Shankar, Pankaja
Thanks for reaching out!
As per my understanding, creating a SharePoint list in a specific folder is not supported. Hence, it is not possible to achieve the same using Graph API.
Lists are stand-alone objects and cannot be nested within each other. Managing lists inside a folder is not supported. Currently, using Graph API you can create lists at a root level.
For creating a SharePoint list using graph API, please refer this documentation.
Hope this helps.
If the answer is helpful, please click Accept Answer and kindly upvote. If you have any further questions about this answer, please click Comment.