What could be the solution for this? I am performing a backup of a web application but it doesn't allow me and at last I end up with the below error.
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You need to run SharePoint Configuration Wizard so that it will upgrade the content DB to match with the SharePoint binaries' version. SharePoint will work to a certain point when there is a difference in DB vs. binaries version, but at some point the difference is too much and DB is blocked.
Alternative to SharePoint Config Wizard is to run:
psconfig.exe -cmd upgrade -inplace b2b -wait
It does exactly the same as the graphical SharePoint Configuration Wizard.