Private lender Kotak Mahindra Bank on Thursday raised its marginal cost of funds-based lending rate (MCLR) for June by 20-25 basis points (bps). The bank has also hiked its one-year MCLR by 20 bps to 7.85%. The bank had increased the lending rate by five bps to 7.25% in January and continued to raise it by five bps till April.