Absolutely no problem in using more than one signature, which means one for banking, important documents like agreements, contracts, deeds, etc., which is not used very often and for limited occasions. Use similar or shorter versions for all and sundry uses. It's nothing unusual about it. Almost everyone uses a shorter sign like putting initials in attendance registers, vouchers, logbooks, etc. Similarly, signing in their vernacular, like some state government employees, and using an English signature for documents is also in vogue.
In Central government offices, central PSUs, and autonomous establishments supported by the central government, signing in Hindi is encouraged. You may be surprised to know this: for every signature in Hindi, they are paid some incentives in cash also, 'earn while you sign.' Even some state governments might have such a scheme, while a few state governments issued directives to sign files/correspondences only in the state language.
But, caution, if you start signing on a day-to-day basis, like one style today, another style tomorrow, or too many different signatures, you may land in trouble too. So, restrict to two, say a shorter version and the other an authentic version, failing which you may run into the risk of proving yourself, "who are you," as the genuine signature is your identity too. It's normal for one's signature to undergo changes as the years pass by. For example, one's sign in the SSLC certificate would 100% vary with a sign when they get into college or employment and when they become older.
Nowadays, most/all banks have online verification of a specimen signature. With the slightest variation in sign with the specimen, banks/post offices will ask you to submit ID/sign proof attested by a Gazetted Officer, and they are right too. (I don't know what the GOs will do if their own sign doesn't match with their original sign.)
Regards,
Kumar S.