  The relevance of parity and time reversal (PT)-symmetric structures in
optical systems is known for sometime with the correspondence existing between
the Schrodinger equation and the paraxial equation of diffraction where the
time parameter represents the propagating distance and the refractive index
acts as the complex potential. In this paper, we systematically analyze a
normalized form of the nonlinear Schrodinger system with two new families of
PT-symmetric potentials in the presence of competing nonlinearities. We
generate a class of localized eigenmodes and carry out a linear stability
analysis on the solutions. In particular, we find an interesting feature of
bifurcation charaterized by the parameter of perturbative growth rate passing
through zero where a transition to imaginary eigenvalues occurs.
