What all permissions required for a AEM user to create AEM Asset Collection ?

Yes as Prince suggests, check the docs which says how to assign permisions for the Asset collections(Create, Delete, so on..)

//https://docs.adobe.com/docs/en/aem/6-2/author/assets/managing-assets-touch-ui/managing-collections-touch-ui.html

~ Ratna.

I am still having an issue with my instance that I am not able to create a collection.  I followed the instructions on the page that you linked, but when I go to create a collection and click Save, I get the error "Failed to create collection".  There is no error number or any other qualifying terms.

I have seen that document multiple times and no where does it say what group or groups a regular user needs to be a part of to create, delete or add to a collection. The document merely shows how to do those actions and how to make a collection public. In our current environment, the only person who can create a collection, is the admin.