Batch event &1 doesn't exist

What causes this issue?

You entered event &V1& (batch event) in the settings for the delete
program, but this event doesn?t exist.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Create batch event &V1& or enter an existing event.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.