The decision to convene the panel meeting came after Rajnath Singh held a meeting with Advani.
Earlier, BJP leader Nitin Gadkari met party president Rajnath Singh to discuss the issue. Later, Gadkari met Advani to persuade him on Modi's name. Swaraj and Ananth Kumar also joined the meeting.
Advani had conveyed his reservations about announcing Modi's name at this juncture. He had suggested that the BJP chief ministers should be consulted on the issue and the party should wait till the forthcoming assembly elections to Madhya Pradesh, Chhattisgarh, Rajasthan and Delhi are over.
The BJP patriarch is of the view that making Modi the prime ministerial candidate will put issues like price rise and corruption- on which the BJP has attacked the Congress- on the backburner and make the controversial leader the issue, party sources said.