None of the current 91mm Swiss Army knives from Victorinox have a serrated blade. However, knives in the "mountain" series of the 1990's had a partly serrated blade (there were also models with a fully serrated blade).
The partially serrated blade is a decent compromise, with a plain blade at the tip, but serrations near the base. That way you can use either type of edge, depending on what you are cutting.
Uses: Serrated blades act more like a saw than a knife-- they don't work so well for simple slicing, but you can push them back and forth, and saw through tough materials like wood, leather or bone, that aren't easily cut with a simple blade.
WARNING: Be extra careful with serrated blades! They can cause nasty, ragged lacerations that take much longer to heal than cuts from a straight blade.