Step 1: Open Site
Step 2: Go to Site Action and Click Site Permission link.
Step 3: Click Permission Level Link Button.
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Step 5: Give Your own custom Permission Name
Step 6: Select the permissions to your custom permission
level.
Step 7: Click Create Button.
Step 8: Click Site actions link after Click Site Permission
Step 9: Click Create Group Icon
Step 10: Follow below
screens