Jaitley called on Joshi, one of the four senior leaders including L K Advani who had issued a strongly-worded statement on Diwali eve, and spent some time at his residence.
Details of their talks are not known but the Finance Minister, once an Advani protege, is believed to have been tasked with the responsibility to defuse the situation.
The meeting came a day after Jaitley's ministerial colleague and former party president Nitin Gadkari put up a strong defence of Modi and Shah and even demanded action against those making "irresponsible" statements.
The three former presidents insisted that the party practised collective accountability when Advani and Atal Bihari Vajpayee had headed it and suffered losses.
Party sources said Rajnath Singh is of the view that since Advani and Joshi have experience and contributed immensely to the growth of the BJP, the party should listen to them.
Meanwhile, Prashant Kishor, who played a key role in Bihar Chief Minister Nitish Kumar's successful campaign to retain power, met former Union minister Arun Shourie.
Once a Modi supporter, Shourie has turned a bitter critic and is said to have played a role in drafting the veterans' statement.
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