Hi
The oil light is for low oil pressure. If your bike is not running then the light should be on as the engine has to be running to develop oil pressure. Does the motor turn over when you try to crank?
However it sounds like two problems, electrical and mechanical. 1. Check your battery and see if it has any power. One question about this, can you hear a relay or solenoid clicking when you try to crank it? If not then your rectifier could have give shorted out.
2. It sounds like the clutch has let go. (Hopefully a clutch and not a gear or bearing.) Another mechanical failure could be a broken cam chain or chain tensioner, but this is unlikely since the engine was running until you came to a stop.
Please get back to us if you have further query else please accept the suggestion.Thank you for contacting fixya.com
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