Hi Karthik,
We have expert session 11 talking about backup & restore from link:
http://maxdb.sap.com/training/
The pdf shows the steps to do the backup.
To have a schedule backup, you need to integrate the maxdb to an netweaver dbacockpit, so that you can schedule job from dbacockpit. To integrate the database, please refer to SAP note:
1371928 - DBA Cockpit: SAP MaxDB/liveCache as remote database
best regards,
james