Hi Trishul,
I'm not 100% sure it can be retrieved with a single query. Localizations are stored as 2 objects: cms.resourcestring (key) and cms.resourcetranslation (value). You can request all keys first with this request: /rest/cms.resourcestring/all so you will get something like this:
<cms_resourcestrings>
<CMS_ResourceString>
<StringID>3</StringID>
<StringKey>custom.Colour</StringKey>
<StringIsCustom>true</StringIsCustom>
<StringGUID>699cd546-de8a-4827-a832-1fcc7e92935f</StringGUID>
</CMS_ResourceString>
<TotalRecords>
<TotalRecords>1</TotalRecords>
</TotalRecords>
</cms_resourcestrings>
And then iterating through keys you can request translations using StringID values: /rest/cms.resourcestring/3/bindings/cms.resourcetranslation, which will return all translations for this particular key:
<cms_resourcetranslations>
<CMS_ResourceTranslation>
<TranslationID>5</TranslationID>
<TranslationStringID>3</TranslationStringID>
<TranslationText>Colour</TranslationText>
<TranslationCultureID>50</TranslationCultureID>
</CMS_ResourceTranslation>
<CMS_ResourceTranslation>
<TranslationID>6</TranslationID>
<TranslationStringID>3</TranslationStringID>
<TranslationText>Colore</TranslationText>
<TranslationCultureID>120</TranslationCultureID>
</CMS_ResourceTranslation>
<TotalRecords>
<TotalRecords>2</TotalRecords>
</TotalRecords>
</cms_resourcetranslations>
In theory according to the documentation (scroll to very bottom), you should be able to include bindings and hierarchy in your first request and CMS should return these all together in one response, but when I tested it on my local environment, it didn't return bindings for some reason:
/rest/cms.resourcestring/all?translations=true&bindings=true&hierarchy=true
You can ask Kentico support why this request doesn't work as expected, there could be a bug they can fix.