Well, it s quite broad.

Ill be short
\e an RBI licence (PPI) to operate as a semi closed wallet (Paytm, mobikwik etc
are all semi closed wallets.). You need to comply with the payment and settlemen
ts act of the RBI to obtain this licence. RBI will ask for your comapany s financi
als and other related documents and will do a thorough scrutiny. The final appro
val to grant you an in principal approval to operate as a digital wallet will rest
with the RBI board. Once you get this in principal approval you ll need to comply
with CISA - DISA standards. You can start developing your wallet once you get a
n in principal approval from RBI.
Creat that will be in picture when you handle payments. You also need to comply
with VISA/MASTER/RUPAY etc if your allowing loading of amount into your digital
wallet through these card networks.