The Telangana Rashtra Samithi (TRS) president met Banerjee in her office here.
The meeting between the two Chief Ministers came amid Rao making efforts to stitch an alternative political front by uniting regional parties against the Bharatiya Janata Party (BJP) ahead of the crucial 2019 General elections.
Mamata on Friday had urged all opposition parties to work closely together against the NDA.
Following his meeting with Banerjee, Rao is likely to tour Delhi, probably after the budget session of the State Legislature, to meet more regional satraps, to persuade them to be part of the third front.
Rao had recently mooted the idea to form a 'Third Front'. (ANI)