@Aditya Patil I'm glad that you were able to resolve your issue and thank you for posting your solution so that others experiencing the same thing can easily reference this! Since the Microsoft Q&A community has a policy that "The question author cannot accept their own answer. They can only accept answers by others", I'll repost your solution in case you'd like to "Accept" the answer.
Issue:
You observed the below error on your function app log streams:
"Microsoft.Azure.WebJobs.Script.Workers.Rpc.RpcException: Result: Failure
Exception: ModuleNotFoundError: No module named 'pandas'. Cannot find module. Please check the requirements.txt file for the missing module. For more info, please refer the troubleshooting guide:
Solution:
You tried remote build and deployment to deploy your function app and confirm that your function app was working as expected.
Thank you again for your time and patience throughout this issue.