I am new to MongoDB, is it possible to create a save point and perform rollback in MongoDB?
MongoDB supports transactions but I think that you are talking about the backup/restore mechanisms. In this case, MongoDB does not offer any special functionality, only classical dump/restore.
But the MongoDB Atlas (MongoDB SaaS) can offer the continuous backups functionality (snapshots and point-in-time).
The other solution would be to implement the content versioning functionality in your application or via some sort of middleware/service.