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1) I2C of "CY8C5467LTI-LP003" will it require Pull up resistors?
Yes. By the definition of I2C the clock (SCL) and data (SDA) lines are float high (therefore a pull up is necessary) and drive low.
2) in datasheet it shows that this chip contains 2 I2C channels, but in PSoC creator i am only able to place 1 I2C block otherwise it shows error of I2C limit exceed and suggest me to put UDB I2C.
This is true for me too if I am trying to configure two fixed-function I2C components. This is only one in the PSoC5LP.
3) if i place UDB I2C block , the error solved and now i have 2 I2C (Master) , in PSoC Creator it shows Master I2C and Slave I2C blocks with their UDBs, now if i place I2C Master Block then the MCU set as Master right? and same with Slave Block if i place Slave block the MCU will set as Slave right?
Yes. There are four modes shown in the datasheet, Slave, Master, Multi-Master, Multi-Master-Slave. Read the datasheet to determine which best suits your needs.