The Asia Cup is expected to be cancelled as the BCCI rejects PCB's hybrid model proposal.
Jay Shah, the BCCI secretary, is said to be opposed to the Asia Cup 2023 hybrid model.

Jay Shah, the BCCI secretary, is said to be opposed to the Asia Cup 2023 hybrid model. The Asia Cup has been a hotly debated topic in recent weeks, with both the Board of Control for Cricket in India (BCCI) and the Pakistan Cricket Board (PCB) standing fast. With Pakistan set to host the Asia Cup in September 2023, the hybrid model of the tournament, in which the Indian team will play its matches outside of Pakistan, has also been apparently rejected.
Many sources have suggested that if the PCB sticks to its hybrid model plan, the Asia Cup may not take place in 2023. The PCB has completely rejected the idea of holding the event in another country, as Sri Lanka also reportedly sought to host the event, with the UAE possibly being a prospective possibility.
The PCB rejected all other options, including hosting the tournament at home, since the board believed that if the issue was not fixed now, it would pose problems when they hosted the ICC Champions Trophy in 2025. Many sources also stated that a major decision on the Asia Cup dispute could be made soon.
Notably, Jay Shah stated two weeks ago that the council was awaiting input from the respective participating countries before making a final decision on the Asia Cup venue. "We are waiting for feedback from other countries to finalise the venue for the 2023 Asia Cup, as well as clarity on the India-Pakistan match," Shah was quoted as saying by Cricket Pakistan.
On the other side, the BCCI is also prepared for the Asia Cup to be cancelled. If the Asia Cup is cancelled in the future, the board is apparently planning a whole new five-nation competition to take place in the window that will be vacated by it. The PCB's proposal for a hybrid tournament style appeared to be the solution to the conflict between the two boards.
However, this does not appear to be the case any longer. Although the BCCI secretary, Jay Shah, was reportedly interested in the model when it was first introduced, he now appears to be opposed to it. With PCB concerned about the public reaction to the Asia Cup's postponement, it may jeopardise their plans for the future ODI World Cup, which is set to take place in the latter portions of 2023.