Hi @Nerin Peter Chetty (For Azure) ,
Yes, you can set up password reset using Phone Number via custom policies. There is a custom policy here which allows Password Reset via Phone Number. https://github.com/azure-ad-b2c/samples/tree/master/policies/password-reset-with-phone-number
There is also an example here that shows how to use a display control to conditionally process on the users' decisions to verify their accounts via Email or SMS verification code.
You can't do it through user flows though and can only enable it through custom policies.
Let me know if this is what you are looking for and if you have further questions. I will also see if I can dig up some additional samples, though the ones I listed are the current official ones.
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