Prokaryotic transcription involves RNA polymerases catalyzing the synthesis of RNA molecules using a DNA template. There are three main steps: initiation, elongation, and termination. Initiation begins with the binding of RNA polymerase to promoter regions on the DNA. Elongation then occurs as the polymerase unwinds the DNA and adds nucleotides to the growing RNA chain. Termination happens when either Rho-dependent or Rho-independent termination signals are reached, causing the release of the completed RNA molecule.