Hello Lalita,
You cant archive the board, but you can remove permissions from it.
Remove board filter share to no one, create a user used for archiving(you don't need to give him a license) transfer board ownership to him.
To archive, a project follow these instructions.
https://confluence.atlassian.com/adminjiraserver/archiving-a-project-938847621.html
BR, Olga
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