Hello @aarthie_ramachandran
First, are you working with a Team Managed project or a Company Managed project? At the bottom of the navigation pane on the left it will tell you which one it is.
Because you indicated that the Status of each issue is not displayed, I am assuming that you are working with a Company Managed project. For a Team Managed project the Status of each issue would be displayed by default.
The Backlog screen for a Scrum board will show the issue grouped by the Sprint to which they are assigned, and below that a Backlog list for issues not assigned to the Active or Planned sprints above. You can't change that.
Within each of these groupings issues are "ranked". The ones at the top of the list should be done first, progressing to the bottom of the list. This allows you to drag and drop issues to change which should be done first, second, and so on.
With a Company Managed project you technically can change the ordering of the issues within these groups to be based on the Priority field for the issues, but it is a bad idea. In the Scrum methodology issues are typically individually prioritized (or ranked), and you can change their order by individually selecting, dragging, and dropping an issue into a new position in the list.
If you choose to change the ordering of the issues from Rank to Priority you will no longer be able to drag-and-drop the issue to reorder them. Additionally, within the subgroup of High Priority issues, how would you expect the system to determine which among those is actually the single highest priority, and the second highest priority, and so on?
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