If cricket fielder not pulled back his hand then he may face with an injury in his hand. As the ball has very high velocity if the ball is stopped suddenly then its high velocity comes to zero in a very short time. As momentum is given by
p=mv
=mxt
So, when time is less so the change of momentum of the ball will be large and hence larger force is applied for holding the catch. As a result, the fielder may get injured.