Srinath bhai..
I think it might be a battery issue.It may not be charged to the adequate level.
I haven't faced any problems similar to you but I have faced an issue in which my bike's orange indicator used to glow frequently
After getting it charged at the SVC ,it became normal as earlier.
So you can give it a try,IMHO..

BTW how is your bike behaving at night?





What can i do about this? Is it a replaceable panel or should i get it painted? And how much approx. will it cost?

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