@SuyashBajpai in general, I’d advise not to pay attention to what that says. It long has been inaccurate and not lined up with things. Overall it has always worked as a timer to show when the new month begins and to kind of say when payments should start. It’s never been an accurate portrayal of the actual progress, especially of payment for each individual.
The main thing to watch overall is Ads Payout Status Update which has like my screenshot below:
When they have payments finished on something, it will update, such as:
But currently none are complete. They sometimes will start issuing payments earlier, but as said before…generally the “start” date for it is the 7th. The difference between it saying the 7th or the 8th depends on your timezone, as if you’re near India it’s the 8th while it’s the 7th here.
But yes, it doesn’t just push out all the millions of payments in less than 24 hours. How long it takes to complete changes each month depending on how smoothly traffic goes.