Where does the Hive data gets stored?
Hive data are stored in one of Hadoop compatible filesystem: S3, HDFS or other compatible filesystem.
Hive metadata are stored in RDBMS like MySQL, see supported RDBMS.
The location of Hive tables data in S3 or HDFS can be specified for both managed and external tables.
The difference between managed and external tables is that DROP TABLE statement, in managed table, will drop the table and delete table's data. Whereas, for external table DROP TABLE will drop only the table and data will remain as is and can be used for creating other tables over it.
See details here: Create/Drop/Truncate Table
Here is the answer to your question. But I will suggest you to read hive books or apache hive site for better understanding.
Does it stores it's data in HDFS or in a RDBMS ?? - The Data for HIVE is always stored in HDFS. For managed tables the data is stored in hive warehouse by default which is a directory in HDFS. For HIVE External table user can specify the location anywhere in HDFS.
Does Hive Meta store uses a RDBMS to store the hive tables metadata ?? - Yes HIVE uses RDBMS to store the metadata.