"USB power consumption error" (OTG) I use a USB OTG cable to connect USB devices such as pen drives, mice, key boards, etc. But when I connect some devices, (particularly some of the pen drives I have) it gives me following error message and prompts me to disconnect the device.

I contacted my OTG cable retailer and he suggested that I should use a USB hub with a power inlet, to connect the devices which give the above error as the said error generated due to heavy power drain from the connected devices (pen drives).
I want to know whether there is a possibility of bricking my phone if I use a USB hub with a power inlet, like this:
The hub's power should only go to the hub's slave ports, not through the master port back to the phone

But even if the hub uses an odd design, the most it would do is feed the phone 5V and however much amperage it will accept, same as with any bog standard wall charger.

So in short, there's no risk to your phone.