Laravel had a routes.php file in older version. Which got changed into routes/web.php I am trying to upgrade the laravel from older to latest version. But my routes.php still exists and routes folder is not still created.
Is this fine, because the code works fine till now.
Look at your RouteServiceProvider.php. That's where you find the definition of the routes files.
If you perform a true upgrade I would suggest to also update file paths. Just makes it easier to understand code of you have multiple laravel projects or when switching developers.