Yes, you would have potential problems, names and signatures are a vital part of one's identity in day to day life and in important legal transactions. You need to be careful and sort this out soon. Firstly, if your name is Vinayaka Yedukondalu, your first name would be Vinayaka and your surname would be Yedukondalu, I don't see a middle name. Hence get this clarified.
Then review your SSLC marks card, birth certificate, degree certificate, PAN card, bank account, driver license Aadhar card, passport etc with respect to your name and signatures in each of them.
Based on what you already have established( your name and signature) you may have to change many documents.
If you still want to change your signatures, then you would have to inform the relevant offices via a formal request.
For instance, if your bank account has your old signature and now you want to sign as Vinayaka, you would need to submit a request letter to the bank similar to this Format of sample letter to the Bank requesting for change of signature
Similarly, you would have to check and change for passports by filling out a form (image of a sample enclosed) and submitting it to the passport office.
Lastly, please remember that your signature has a mismatch (because of a change now) in FD deposits, land/sale deed registration documents, bank lockers and family will related documents, you would face major hurdles. So, please think twice before changing, if you do decide to change proceed accordingly based on the documents in hand with the old signatures.