I think i am in soup now 
Because i have actually created a new schema from scratch..though i had already an active one assigned to Txns.
However as suggested , if i need to create a new schema, then i need to copy the existing one and change it accordingly. In my case as i have already created another one...and changed status to Active, how do i delete this?? i dont see an option to delete..or atleast make sure that the new one which i have created is not affecting the other schema?