TexasAggie, prince666,bikerdoc, thank you guys!

I think it is the side stand killswitch as well (NK 650 has it). When I put the kickstand away the red "P" light on the dashboard goes out, so I've assumed it's OK. Now I am thinking it may be so that the part of the circuit "sees" the kickstand as put away, and part of the circuit doesn't.
I will check it ASAP and spray some WD-40 over the switch meanwhile I'm at it.